Video summary
The video begins with a focused introduction to a day trading session on Monday, August 17th, where the host emphasizes a strategy centered entirely on price action rather than technical indicators or complex analysis. At the start of the stream, market conditions showed mixed signals with the S&P futures up slightly while the Nasdaq and Dow were down, though overall volatility remained low with an expected range of just 24 points for the SPX. The host noted that there was minimal scheduled news for the week, aside from FOMC meeting minutes later in the week, and highlighted specific pre-market movers such as semiconductor stocks like Super Micro Computer and Micron which were leading gains, while retailers like Shopify lagged behind.
As the market opened, the trader executed several strategies including a 3/4 double calendar spread and a one-day-to-expiration iron condor, though technical difficulties with the trading platform's API required manual intervention to activate certain automated orders. The session saw significant movement in cryptocurrency-related stocks, with companies like Marathon Digital and Circle gaining ground while others like Coinbase faced rejection at previous highs. Despite initial optimism regarding chip stocks maintaining strength, the broader market struggled to sustain momentum, leading the host to take a starter position in Hood before deciding to cut it as prices rolled over and failed to hold key support levels.
The trading day took a downturn as major indices began breaking below their previous day's lows, prompting the trader to shift focus to defensive plays by loading put options on the Russell 2000 index, anticipating a potential drop toward prior lows. Although there were brief attempts to average into positions at lower prices, the market continued to weaken with tech giants like Microsoft and Meta making new lows, causing the trader's remaining positions in IWM and other equities to turn into losers by the end of the morning session. The host concluded the stream acknowledging two losing trades for the day, noting that while the financial losses were reasonable given the volatile conditions, they still represented a net loss for Monday, and he decided to wrap up the broadcast while continuing to monitor the market for any future opportunities.
Read the full video transcript
Wake up. Wake up. It's time to get
going. Got to catch those runners taking
off like a bullet. If the volume spikes,
then it's time to trade. Mighty 90
setting up it's time to get paid.
Navigation trading on the mic. Time to
get focused. We don't need any indicator
hocus pocus. It's all about the price.
Just watch it move. Manage your risk so
you don't lose. First hour of trading is
all we need. Focus on the patience and
forget about greed.
>> Good morning everyone. Welcome to
today's day trading live stream, Monday,
August 17th.
We've got the S&P futures up three
points, Nasdaq up 91, the Russell is
down 10, and the Dow is down 182.
All plus or minus within about a third
of a percent.
Uh gold up tiny green, silver's up a
half percent, notes and bonds and yields
all pretty flat. Oil's up about a half
percent, natural gas down a little over
one.
Soybeans green,
wheat red, corn green, euro and the
pound are both up a quarter percent,
Bitcoin up almost 1%, Vix up
almost 5 and 1/2% currently at 15.03.
Got a pretty low expected range in SPX
today, right at 24 points, $24.
Biggest pre-market movers for individual
stocks, the chips, some of the chips are
up. SNDK's up 3 and 1/2%, MU's up almost
three,
Intel, AVGO,
Nvidia all higher.
Uber's also up almost 2%. Amazon's up
one.
Biggest red, Shopify, CRM.
All down a little less than 1%.
I'm going to plan to put on a 3 4 double
calendar near the open. Also my 1 DTE
iron condor will go on.
Actually I need to make sure my 1 DTE
bot is
Yeah, it was paused.
All right, so that has been unpaused.
Ready to go.
Opening bell in about 95 seconds.
Yes, exactly Watson.
24 point expected move, so 100 points
here we come.
Not a lot on scheduled news all week.
The only red folder event we've got is
FOMC meeting minutes, which is
usually not even a market mover.
That's on Wednesday afternoon, but other
than that, not a whole lot.
Also for earnings
before the open tomorrow, we've got Home
Depot, Baidu, and Klarna.
After the close
Wednesday, Weble. Before the open
Thursday, Walmart and Alibaba.
>> Oh, Target's coming? I don't have that
on my list.
Let's see.
All right, there is the opening bell.
First order of business is to get my
3 4 filled.
>> All right, 3 4 has been posted.
All right, so the indices kind of
in between
Friday's range here.
So we're watching to see if one of these
kind of breaks out.
S&P about to push through pre-market
lows. Russell just pushed through
pre-market lows.
My 1 DTE did not fire.
>> Huh, some some reason my 1 DTE is not
firing.
Looks like I may need to go old school.
All right, just got filled in my 1 DTE.
Let me get that posted.
>> Okay, there we go. Thank you, Watson. I
had I just didn't have Target on my list
of earnings stock, so it is
loaded into flux now.
All right, S&P dipping below previous
day low and then bouncing.
Biggest movers now that the market's
been open for a bit.
SNDK and MU still leading.
MSTR's up almost three coins up.
So, chips and cryptos.
Actually, there are some chips in the
red also. SMCI
Intel's barely green.
AMD's red.
So, really just memory, it looks like.
MU and SNDK.
Amazon and Google flushing previous day
low.
>> Really good as in
MSTR's above previous day high.
Looks good.
That looks good, Watson.
Look at that.
I mean, does it get much better than
that?
Circle, MSTR, Coin, Hood, Bitcoin all
bouncing
at the open.
Yeah, it is. It's kind of below that
zone, too.
Where it bounced a couple times.
MSTR up three, Circle up four, coin up
almost two.
Hood pushing above pre-market
high.
Hood had a nice little sweep before the
bounce.
S&P going through previous day low.
Nasdaq through pre-market low, Russell
through pre-market low.
Oh, good, Chris.
Thanks for letting me know.
>> Big banks pushing from the open.
I'm watching Hood here at pre-market
high.
I'm going to load up the four-day 100
calls.
On my watch list.
I'm going to load up the 100 calls in
MSTR as well.
I had to fire my 1 DT manually. It would
it didn't work a bunch.
Let's see. It looks like there's a
known issues Schwab API having multiple
issues. Just posted in the OO
Discord.
>> I'm going to take a starter position in
Hood.
With room to add.
>> Order filled.
>> Filled at 1150.
>> Crypto's pulling back.
MSTR below previous day high coming back
down to pre-market high.
General is short Microsoft, nice.
All right, so I've got room to add here
on Hood. I want to see some buyers step
in now in this area right here.
If I'm going to add, otherwise I'll cut.
Meta weak, Microsoft weak, Amazon weak,
Google weak.
SpaceX taking off, up 4%.
SMDK, MU still holding pretty strong.
Crypto's dipping. I'm going to I'm just
going to cut my small Hood position
here.
These things are rolling over.
All right, so I'm out of that.
Circle rejected previous day high MSTR
back below previous day high coin in the
red.
Hood back in the red.
Bitcoin little pullback.
Good good good hold Watson good hold.
Good pause.
Big banks are pushing.
S&P dipped again below previous day low
and bouncing.
>> Little flush and little bit of an
aggressive bounce out of S&P. Tesla
about to go green.
Big volume in SpaceX on that
last 5-minute bar.
>> Nvidia little weaker, chopping around
unchanged. Meta Microsoft still making
new lows.
Apple trying to go green.
S&P still pushing. It's up 7 and 1/2%.
Order filled.
Nasdaq bounce
after it flushed premarket low even more
aggressive than spy.
IWM also back into pre-market range.
Nvidia getting a little bouncy.
Kind of flushed below pre-market lows a
couple times.
Nvidia's about $10
below all-time highs.
AMD keeps getting rejected going green.
Oh, yeah. Circle popped back up.
Hood a little bounce. Coin a little
bounce. MSTR reclaimed.
>> I am used to love 4 and 1/2% but no
continuation really.
After that first initial bounce
at the open.
SpaceX still going 5 and 1/2%.
S&P rejected pre-market low.
Russell back below pre-market low.
I'm going to load some puts in IWM.
Wow, these are cheap. Zero DTE 303s.
>> S&P trying to hold above previous day
low.
Circle dipped back below previous day
high.
>> All right, I'm watching I'm watching IWM
puts here.
I'm going to start some puts in IWM.
Filled at 32 cents on those.
Small size with room to add here. Trying
to
just average in below pre-market low
here for potential move down to
previous day low.
S&P now breaking back down below
previous day low.
S&P about to go through lows of day.
SpaceX flying.
Amazon rolled back over. Google back
through lows. Microsoft another leg
lower.
Generally still in the any softy?
MU popping through highs of day. SNDK
still going up. Up 8 and 1/2%
>> Russell new lows. I'll try to take some
off at 39.
Filled at 39.
Try to take some more off at 44.
Let's open a build a little bit more of
a position before it drops. I'm pretty
small here, but
working so far.
Filled at 40. Oh, no, never mind. That
was something else.
Trading at 43.
Another little tick lower should hit it.
Getting a little bounce.
>> I'm going to reload here in IWM at
filled at 33.
Oh, that's an aggressive little bounce.
Try to add some more at 27.
Right at pre-market low. Okay, filled at
26 and 27.
But needs to reject here.
S&P pushed back up to previous day low.
It's rejecting a little bit.
Try to take some IWM off at
34 and 36.
Get another little dip back down.
S&P making new lows.
Nasdaq starting to roll over.
Tesla had a big rejection trying to go
green.
>> Need to see IWM reject here.
MU SNDK little pullback.
SpaceX little pullback.
The three strongest.
MSTR back to previous day high.
Spy having a hard time getting back
above previous day low. That's a good
sign. Nasdaq starting to come back down.
>> And I am just kind of holding.
>> Order cancelled.
Order filled.
>> Need a rejection.
>> Not getting it. With the NASDAQ coming
down, NASDAQ's all of a sudden acting
the weakest. Russell's starting to act
stronger.
Give it just a minute here.
With the other indices
dropping, I want to see if it's going to
follow or not.
Looks like not.
I went with Russell instead of spy cuz
Russell looked weaker, but I'm going to
have to cut.
Okay, I'm out.
Did not hold.
All right, so two losers this morning.
Uh I'm going to wrap the stream. I'll
keep watching.
Hood was minus 900, IWM minus 309, so
reasonable losses, but
Monday losses nonetheless, Watson.
Uh I will keep watching here. If I see
anything I like here coming up in the
near future, I will post in the trade
channel.
Otherwise,
I will see you all in power hour.
Cheers.